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Tilt Renewables Sells Snowtown 2 Wind Farm to Palisade

Power News - Published on Wed, 11 Dec 2019

Image Source: Snowtown 2 Wind Farm
As a result of the strategic review announced in June 2019, Tilt Renewables has entered into an agreement to sell the 270 MW Snowtown 2 wind farm to an entity wholly-owned by funds managed by Palisade Investment Partners Limited and First State Super, for an enterprise value of AUD 1,073 million. The transaction will occur through the sale of shares in Snowtown 2 Wind Farm Holdings Pty Ltd for AUD 472 million. S2WFH is being sold with Snowtown 2's existing project finance facility, which has an expected balance of approximately AUD 611 million at transaction closing. The purchase price is subject to customary closing adjustments. The transaction is expected to close before the end of 2019.

Snowtown 2 was developed by Tilt Renewables and has operated successfully for 5 years since construction completion and full commissioning was achieved in 2014.

Source :

Posted By : Arun Huidrom on Wed, 11 Dec 2019
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